3. Hold a Bank Account or Credit in Their Own Name
For much of history, women faced substantial restrictions managing their personal finances. Banks often required a husband’s or male relative’s approval before allowing a woman to open an account or obtain credit. In the United States, this changed significantly with the passage of the Equal Credit Opportunity Act in 1974, which prohibited financial institutions from discriminating against applicants based on gender or marital status. Prior to this, women struggled to build credit histories independently, severely limiting their economic freedom. This landmark legislation granted women the autonomy to control their own financial decisions for the first time.
